Welcome to our dedicated page for Martin Marietta Materials news (Ticker: MLM), a resource for investors and traders seeking the latest updates and insights on Martin Marietta Materials stock.
Martin Marietta Materials, Inc. (NYSE: MLM) is an American company and a member of the S&P 500 Index. It stands as one of the leading suppliers of aggregates and heavy building materials, with operations spanning 36 states, Canada, and the Caribbean. The company’s core business involves the production and supply of construction aggregates such as crushed stone, sand, and gravel. In 2023, Martin Marietta managed to sell an impressive 199 million tons of aggregate materials.
Additionally, Martin Marietta produces cement in Texas and integrates its aggregates into its asphalt and ready-mixed concrete operations. The company's significant markets include Texas, Colorado, North Carolina, Georgia, and Florida, which constitute the majority of its sales.
Martin Marietta's Magnesia Specialties business unit produces a diverse array of products including magnesium oxide, magnesium hydroxide, and dolomitic lime. These products find applications in various industries such as environmental, industrial, agricultural, and specialty sectors worldwide.
Recently, the company has been making headlines with key strategic moves. In November 2023, Martin Marietta announced an agreement to sell its South Texas cement business and related concrete operations to CRH Americas Materials, Inc. for $2.1 billion. This sale includes the Hunter cement plant, related distribution terminals, and 20 concrete plants in the Austin and San Antonio regions. This decision aligns with the company’s SOAR (Strategic Operating Analysis and Review) 2025 objectives aiming to optimize its portfolio and maximize stakeholder value.
Furthermore, Martin Marietta has been recognized as the “Undervalued Stock” in BetterInvesting Magazine’s March 2024 issue, reflecting its potential for growth and value in the market. The company also maintains a robust financial position, boasting $1.27 billion in unrestricted cash and cash equivalents as of December 31, 2023.
In May 2024, Martin Marietta entered into an agreement with Albemarle Corporation to process and sell extracted limestone material from Albemarle's Kings Mountain Mine project. This initiative underscores Martin Marietta's commitment to sustainable resource management and environmental stewardship.
With a dedicated team and extensive network of operations, Martin Marietta continues to supply essential materials for building solid foundations on which communities thrive.
Martin Marietta Materials, a leading aggregates supplier, will host an Investor Day on February 25, 2021, at 10:30 a.m. ET. CEO Ward Nye and the senior leadership team will discuss the company’s strategic initiatives, growth priorities, and future business outlook. The event will include presentations and a Q&A session, concluding around 1:15 p.m. ET. Interested parties can register for the virtual event and access the webcast on the company's website. A replay will be available post-event.
Martin Marietta reported strong fourth-quarter results with a 40% increase in diluted earnings per share, reaching $2.93. Total revenues rose to $1.18 billion, driven by growth in the Building Materials and Magnesia Specialties businesses. The company achieved record fourth-quarter profitability, with adjusted EBITDA of $335.1 million.
For 2021, Martin Marietta anticipates continued demand growth supported by housing and infrastructure investments, projecting revenues between $4.51 to $4.7 billion.
Martin Marietta Materials, Inc. (NYSE:MLM) will host an online webcast for its fourth-quarter and full-year 2020 earnings call on February 9, 2021. The results will be released before the market opens. The live audio webcast starts at 11:00 a.m. ET, with an on-demand replay available for one year. Investors can also join by calling (970) 315-0423. Martin Marietta is a leading supplier of building materials, operating across 27 states, Canada, and The Bahamas. The company provides essential resources for community infrastructure.
Martin Marietta Materials (MLM) has declared a quarterly cash dividend of $0.57 per share, totaling $2.28 annually, payable on December 31, 2020. Shareholders of record by December 1, 2020 will receive this payment. As a member of the S&P 500, Martin Marietta supplies building materials across 27 states, Canada, and the Bahamas, ensuring solid foundations for communities. This dividend announcement emphasizes the company's commitment to returning value to shareholders while maintaining its strong market position.
Martin Marietta Materials (NYSE: MLM) appointed Anthony R. Foxx as an independent board member, effective November 6, 2020. With his addition, the board consists of 11 directors, 10 of whom are independent. Foxx, currently Lyft's chief policy officer, previously served as the U.S. Secretary of Transportation, where he oversaw a $70 billion budget and advanced transportation innovations. His extensive background in public and private sectors aims to enhance the Board's expertise. CEO Ward Nye expressed confidence in Foxx's potential positive impact on the company's growth.
Martin Marietta Materials reported a strong third quarter for 2020, achieving a gross profit of $405 million and record year-to-date gross profit of $927 million. Despite a 6.5% decline in shipments, the company managed to offset losses through increased pricing and disciplined cost management. Key highlights include a gross margin expansion to 30.6% and adjusted EBITDA of $501.7 million, bolstered by $69.9 million in one-time gains from asset sales. However, product demand is expected to remain modest due to COVID-19 impacts.
Martin Marietta Materials, Inc. (NYSE:MLM) will host a third-quarter 2020 earnings conference call on October 29, 2020, at 11:00 a.m. ET. The earnings report for the quarter ending September 30, 2020, will be released before market opening. Investors can access the live webcast through the company's website, with an on-demand replay available after the event. For those without online access, a phone line is available for participation. Martin Marietta is a leading supplier of building materials across North America, serving multiple states and international locations.
Martin Marietta Materials (NYSE: MLM) announced a 4% increase in its quarterly cash dividend, raising it from $0.55 to $0.57 per share, effective September 30, 2020. This results in an annualized dividend of $2.28 per share, payable to shareholders of record by September 1, 2020. CEO Ward Nye emphasized the company's strong financial health, stating that the increase reflects confidence in future performance and cash generation amid the ongoing COVID-19 pandemic.
Martin Marietta reported record profitability for Q2 2020, with consolidated gross margin increasing by 200 basis points. Total revenues reached $1.27 billion, slightly down from $1.28 billion in 2019. Adjusted EBITDA climbed to $407 million, driven by effective pricing strategies despite ongoing economic challenges from COVID-19. The company anticipates a 3-4% increase in aggregates pricing for the full year. Product demand remained robust, particularly in North Texas and Colorado, although a decline in overall demand is expected in the coming quarters due to economic uncertainties.
Martin Marietta Materials (NYSE: MLM) announced an online Web simulcast of its second-quarter 2020 earnings conference call, scheduled for July 28, 2020. The earnings results for the quarter ending June 30, 2020, will be released before the market opens that morning. The live audio webcast begins at 11:00 a.m. ET, with an on-demand replay available for one year. The company is a leading supplier of building materials across 27 states, Canada, and The Bahamas, providing resources necessary for community development.
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